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Europe Blood Irradiation Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type, Indication, and End User

Europe Blood Irradiation Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type, Indication, and End User

  • October 2022
  • 109 pages
  • ID: 6362023
  • Format: PDF
  • The Insight Partners

Summary

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The blood irradiation market in Europe is expected to grow from US$ 26.90 million in 2022 to US$ 40.24 million by 2028. It is estimated to grow at a CAGR of 6.9% from 2022 to 2028.

Rise in Healthcare Expenditure and Government Initiatives Bolsters Europe Blood Irradiation Market

The therapeutic landscape of communicable and noncommunicable diseases is evolving with time and technology, increasing healthcare expenditure, and surging awareness in a large population.X-ray and gamma irradiators are widely used for blood irradiation to ensure patient safety and prevent further complications.

Blood irradiation helps manage hematological malignancies and prevents transfusion-associated graft-versus-host (TGVH) disease.The FDA has approved the use of blood irradiators, along with implementing tighter security measures to reduce the risk of unauthorized use of radioactive materials.

The Serious Hazards of Blood Transfusion (SHOT) scheme of the UK government supports patient safety by analyzing anonymized information gathered on adverse events and reactions reported by from healthcare organizations involved in the blood and blood components transfusion after the transfusion procedures.Moreover, European Blood Alliance (EBA), Voluntary Blood Donation in Rhodope, and various other government and nongovernment organizations/projects from European countries are creating awareness among people regarding blood donation to fulfill the increasing demand for blood.

Thus, such government and nongovernment initiatives for encouraging blood donation are driving the growth of the blood irradiation market.

Market Overview

Europe is the second-largest market for blood irradiation, and the market growth in this region is attributed to factors such as the rising prevalence of cancer, cardiac stroke, diabetes, and various other noncommunicable chronic diseases.In addition, growing funding for research & development activities is likely to provide opportunities for the market players in the coming years.

Moreover, the pharmaceutical industry in Germany holds the fourth largest position with small and mid-sized companies.The country is likely to remain one of the most attractive destinations for the Europe healthcare industry over the coming years in terms of treatment.

The industry’s growth is driven by various factors such as increasing investment for research and development, and advanced healthcare facilities like hospitals, blood banks, and clinics. The blood irradiation market in Germany is primarily driven by countries aging population, socio-political environment and high per capita healthcare expenditure.

Europe Blood Irradiation Market Revenue and Forecast to 2028 (US$ Million)

Europe Blood Irradiation Market Segmentation

The Europe blood irradiation market is segmented into type , indication, end user, and country.

Based on type ,the market is segmented into intravenous laser blood irradiation, transcutaneous laser blood irradiation, and extracorporeal blood irradiation. The intravenous laser blood irradiation segment registered the largest market share in 2022.

Based on indication , the market is segmented into acute leukemia, lymphoma, solid tumors, pelvic tumors and others. The acute leukemia segment held the largest market share in 2022.

Based on end user, the market is segmented into hospitals, blood banks, diagnostics clinics, and research institutes. The hospital segment held the largest market share in 2022.

Based on country, the market is segmented into U.K., Germany, France, Italy, Spain and Rest of Europe. Germany dominated the market share in 2022.

Hitachi, Ltd.; Best Theratronics Ltd.; Gilardoni S.p.A.; Gamma-Service Medical GmbH; Typenex Medical; and Actemium are the leading companies operating in the blood irradiation market in the region.

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